Queiroz Galvão, Pacific win Pará-Maranhão, Brazil oil blocks
RIO DE JANEIRO
RIO DE JANEIRO May 14 (Reuters) - Brazilian oil company Queiroz Galvão and its partner Pacific won deepwater Brazilian oil and gas exploration blocks in a frontier region of Brazil's Pará-Maranhão Basin at an auction on Tuesday conducted by oil regulator ANP.
While the area has no existing production, many geologists believe the basin may contain petroleum structures similar to those in Nigeria and other West African oil nations.
The Pará-Maranhão basin's only discoveries came in March and June of 2011 in the BM-PAMA-3 block owned by Brazil's state-run Petroleo Brasileiro SA and by China's Sinopec .